Clearside Biomedical (NASDAQ:CLSD) Raised to Hold at StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts have also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday. Chardan Capital reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.33.

Clearside Biomedical Price Performance

NASDAQ:CLSD opened at $0.99 on Friday. The business has a 50 day moving average of $1.19 and a 200 day moving average of $1.19. The company has a market capitalization of $75.08 million, a price-to-earnings ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a 1-year low of $0.90 and a 1-year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. The trade was a 57.48 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical during the first quarter valued at $49,000. XTX Topco Ltd lifted its holdings in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after acquiring an additional 34,359 shares during the period. Johnson & Johnson bought a new position in Clearside Biomedical in the third quarter valued at about $105,000. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical in the second quarter valued at about $368,000. Finally, Renaissance Technologies LLC lifted its holdings in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares during the period. 18.75% of the stock is owned by institutional investors.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.